German VC Knorr Capital Partner invests in listed-VC KIMON

Consolidation in the German private equity industry continues to gather pace. Venture capital firm Knorr Capital Partners has acquired around 45 per cent of listed VC firm KIMON-Beteiligungen to strengthen its life sciences portfolio.

A statement from Knorr Capital signalled that the investment was part of an emerging plan to build up a network of strategic partnerships in the life sciences sector.

‘With this step, Knorr Capital is planning to establish a broader basis for its biotechnology, medical technology, and health care investment portfolios in conjunction with partners,’ it said.

The German private equity industry has been hard hit over the last year by the collapse of the Neuer Markt, the most profitable exit route for high-tech and biotech investments over the past few years.

Many of the funds that started up during the bubble years have already closed or are struggling for survival and a deep-rooted consolidation has been underway for some time now.

Hareen Equity Partners has made the fourth investment from its third fund by backing the recapitalisation of MedPro Healthcare Staffing.

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